Its lead candidate, VDPHL01, is an extended-release oral formulation of minoxidil targeting pattern hair loss (androgenetic alopecia) in both men and women. 

In October 2025, Veradermics completed an oversubscribed US $150 million Series C financing led by SR One, with participation from Viking Global Investors, Marshall Wace, Invus, and other life-science investors. Proceeds will support registrational Phase III trials of VDPHL01 and preparation for U.S. and international regulatory filings. 

Veradermics was founded by dermatology specialists and is headquartered in New Haven, Connecticut. The company is led by Dr Reid Waldman, CEO. 

The company addresses a large and underserved market—pattern hair loss affects an estimated 80 million adults in the U.S.—and the treatment landscape has seen little innovation for decades. Veradermics aims to differentiate VDPHL01 through its oral delivery and extended-release profile, which is designed to provide sustained hair-follicle exposure and overcome limitations of existing formulations.